EUR/USD still neutral, within 1.0550/1.0750 range – UOB

EUR/USD is poised to keep the broad consolidative theme between 1.0550 and 1.0750 in the next 1-3 weeks, suggested FX Strategists at UOB Group.

Key Quotes

“Against our expectation, EUR surged to reach 1.0684, the highest level in more than a week. The subsequent choppy swings have resulted in a mixed outlook and further choppy consolidation seems likely from here”.

“We just turned neutral on EUR yesterday and there is no change to the view. The current movement is viewed as part of a consolidation phase, likely within a 1.0550/1.0750 range”.